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Price Prediction

Pax Dollar Price Analysis: Will USDP Give Breakout Soon?

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  • The price of USDP is trading at $0.9995.
  • The USDP price increased by +0.22% in the last 24 hours.
  • The USDP year-to-date return is +0.05%.

Monthly Trend Analyzation

This month the trend was bullish as the price was up by 0.14%. By trend and price information history, we can say that USDP is performing well. 

In 1-D Timeframe

Pax Dollar Price Analysis
Source: USDP/USD.1D.CRYPTO by TradingView

Trendline Analyzation

As per the trendline, it respected multiple support and rejection very well, taking exactly from the drawn trendline on the chart. But recently it formed a most commonly seen bullish pattern known as the ascending triangle. In this pattern, the price gives an upward breakout. 

Therefore, at this point, we can observe that the price can climb up further soon. It already took support on the trendline and it is on the verge of giving a breakout soon in the upcoming days. It can reach $1.0053 soon which is the nearest major resistance.

Supertrend

With the help of just two parameters: period and multiplier, this indicator works well. At period value 20 and multiplier value 2, it shows the continuous trend if it’s bullish or bearish. As shown in the chart, it’s bullish.

MACD

As we can see in the chart, the blue line or MACD line crossed the signal line from below while making a bullish crossover. This indicates a bullish trend signal. This highlights that the trend may go upward. On the day of writing, the MACD line is already on the positive side and the signal line is also on the positive side of the MACD indicator. This highlights that the trend may go upward. 

EMA 

The price is going up on the 1D chart. It is below the 20, 50, 100 & 200 EMA (exponential moving average), which is resisting the trend and pushing it downwards. The sellers are stronger than the buyers which shows that the price is unable to reach above resistance levels as resistance is high by the bears. To change the direction, the price has to go up and stay above the 20, 50, 100 & 200 EMA. Also, the price stayed above all EMA’s, if it fails then it’ll go downwards. Hence, it can be inferred that the price might rise soon if resistance is destroyed.

Volume Analyzation

The amount of USDP traded in a day is $13539792. The trading activity is comparatively good in USDP now because the market is favorable and the presence of buyers for the coin has increased significantly as well. Therefore, it can push the price up due to the considerable volume present in the market. 

Conclusion

The USDP coin price as per the price action is bullish. As of now, the technical parameters indicate bullish pressure in the upcoming trading days. Presently, the sentiments of investors and traders are bullish.

Technical Levels:

  • The Nearest Support level is $0.9899.
  • The Nearest Resistance Level is $1.0053.

Disclaimer

In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.

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